Zimbabwe Stock Exchange opens new year in red


The Zimbabwe Stock Exchange All Shares index started the year in the red after dropping 2.15 percent to settle at 97.95 points with some heavyweight counters slipping.

The local bourse rolled out the All Share Index and the Top 10 Index for its big cap counters with effect from today.

The All Share Index will represent the benchmark going forward.

The industrials index lost 2.1 percent to close at 326.04 points while the mining index remained at 142.4 points.

The Top Ten index, eased 2.96 percent to close at 97.04 points on losses recorded by Delta, Old Mutual and Econet.

The largest company by market cap, Delta lost 6.25 percent to trade at 150 cents.

Econet and Old Mutual dropped 2.34 percent and 14.86 percent in the day to close at 90 cents and 470 cents respectively.

However, Padenga and Meikles gained 0.53 percent and 0.68 percent in the day to settle at 55 cents and 29.4 cents respectively.

Market capitalisation fell to $9.26 billion while the market recorded a very low turnover amounting to $27 223 in the day.

Foreigners bought shares worth $9 750 and no sales were recorded on the foreigners side.


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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.


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